ESAB price target raised to $134 from $120 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on ESAB (ESAB) to $134 from $120 and keeps an Outperform rating on the shares. The company’s reported another quarter of strong operating performance and margin expansion despite a more challenging end market backdrop, the analyst tells investors in a research note. The firm remains a buyer of the stock, saying ESAB is “increasingly building a track record of superior execution in a choppier core welding demand environment.”